Top Tweets for #codeIslaw

In the 21st century, software increasingly determines how we communicate, transact, and store value. Smart contracts don't negotiate or discriminate, they simply execute the rules they're given. As AI, digital payments, and decentralized networks grow, one question becomes more important than ever: If code is law, who writes the law? #CodeIsLaw #Bitcoin #Crypto #Blockchain #Web3 #AI #Privacy

The Arbitrum freeze just became a court case. A legal representative for victims of North Korean cyberattacks has served the Arbitrum DAO with a New York restraining notice, seeking to seize the 30,765 ETH frozen after the Kelp DAO exploit. The filing cites judgments totalling $877 million across three federal enforcement actions and argues the funds constitute sovereign property linked to the Lazarus Group. The restraining notice bars the DAO from moving the assets for up to one year. Defiance carries the threat of contempt of court. The Arbitrum DAO now faces an impossible position. Return the funds to the DeFi users who were exploited, or comply with a legal order that views those same funds as the property of the thief. This is the direct consequence of the Security Council model. By creating a technical mechanism to freeze assets, Arbitrum created a legal chokepoint. A garnishee to serve. A central party with the power to withhold funds. In a truly decentralised system there is no such party. There is nothing to serve. No one to hold in contempt. Any protocol feature capable of freezing assets is a liability. When a DAO assumes the power to gatekeep transactions, it assumes the legal identity of a financial custodian. Subject to the same freezing orders and seizures as a traditional bank. The code that was supposed to protect users has made the protocol indistinguishable from the system it was built to replace. https://t.co/7cj9pIGI6i Trust nothing. Verify everything. ZERØ #Arbitrum #DeFi #Crypto #Ethereum #KelpDAO #Web3